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Tokyo Bourse Protests SGX-ASX Deal

By

Ayai Tomisawa

Oct. 26, 2010 3:23 a.m. ET

TOKYO—The president of the Tokyo Stock Exchange said Tuesday he isn't happy about Singapore Exchange Ltd.'s move to take over Australia's ASX Ltd. due to concerns about dilution of Tokyo's stake in SGX.

"As the second biggest stakeholder in SGX, we are not happy that the move would cause big dilution to our holdings," said Atsushi Saito at a regular monthly press conference. The TSE's current holding of 4.99% would be diluted to about 3.1%, he said.